Darwin battles to secure Fenn Wright Manson survival
Fenn Wright Manson, the premium women's fashion chain, is battling to safeguard its future just 17 months after it was acquired by a private equity firm.
The retailer, which has 17 shops and scores of concessions in department stores, is working with a team at the restructuring specialist Zolfo Cooper to explore a number of options.
Four of Fenn Wright Manson's directors, Anju Mahbubani, Patrick Hollwey, Sharon Jones and Claire Lawrence, left the business recently.
Darwin Private Equity acquired Fenn Wright Manson, which has 400 staff, on 1 October 2010. The deal saw the only remaining founder, Colin Fenn, leave. The fashion group's performance has recently deteriorated.
It is thought the idea of putting Fenn Wright Manson into administration has been floated, if it cannot deliver a rescue plan such as fresh funding.
The retailer, Zolfo Cooper and Darwin declined to comment last night.
Fenn Wright Manson's pre-tax profits fell by 58 per cent to just £864,213 for the year to 31 January 2011. The retailer, which has concessions in John Lewis and House of Fraser, grew turnover by 15 per cent to £26.35m.
- 1 Kylie Jenner challenge: Bizarre lip suction device inspired by Kardashian sister goes viral
- 2 Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
- 3 Katie Hopkins and The Sun editor are reported to police for incitement to racial hatred following migrant boat column
- 4 Bruce Forsyth backs assisted dying campaign: 'If I had Alzheimer's or dementia I would do something about it'
- 5 Giorgio Armani criticises the way some gay men dress saying 'a man has to be a man'
Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
Katie Hopkins and The Sun editor are reported to police for incitement to racial hatred following migrant boat column
Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
Giorgio Armani criticises the way some gay men dress saying 'a man has to be a man'
Electronic waste worth £34bn piling up in 'toxic mine', warns UN report
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£30 - 35k (DOE): Guru Careers: We are seeking a Pricing Analyst with experienc...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£21000 - £24000 per annum: Ashdown Group: The Ashdown Group has been engaged b...
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, int...